Six arrested for robbing businessman

Money laundering has been on the rise in the city after the Demonetisation move was introduced by Prime Minister Narendra Modi. In regard to the same, six have been arrested in Hyderabad for robbing a businessman. The alleged culprits, under a pretext of helping to exchange Rs. 61 lakhs of Demonetised notes, nicked the businessman. Of the six arrested, one was the grandson of a retired judge.The matter was not brought to light as to recover the laundered amount.

The police gave a statement that Ganesh Reddy, the businessman, made deal with 8 members to exchange the old demonetised notes of worth Rs. 61 lakh. They asked the business man to meet at them RTC X roads to finalise the deal. When he reached the designated place, the accused took the money and fled from the scene. The Chikkadpally police registered a robbery case under IPC sections. Out of the eight accused, the police arrested six members. A senior Police official said, "The robbery was carried out in a clandestine manner. We are trying to recover the amount as early as possible."

As the amount is above Rs. 50 lakhs, the detectives of Central Crime department have been involved in the investigation process. An amount of Rs. 19 lakhs has been recovered.